When a briefcase containing surveillance files revealing the targets of CSIS investigations and their informants is stolen from a supervisor's car, the entire intelligence agency's existence is threatened.

Crime boss Jimmy Reardon continues his informer-role with Organized Crime Unit Director Mary Spalding, at the same time shipping his own grower-turned-snitch, Bill, off to Mexico. Mary is still being groomed for a position at CSIS, though pressure is mounting to prove Reardon's value as an informer. Reardon tips Mary off that one of her wire-room operators is actually a mole working for the Chinese Triads, hoping in return Mary can help him in his custody battle with his ex-wife Francine. But with a mole in her wire room, the future of Mary's whole unit is now in jeopardy. And it doesn't help either Mary or Reardon when Bill suddenly turns up dead. Mary's Deputy-Director, Ted Altman, is pleased, wanting to undermine Mary as much as possible. Reardon denies involvement, but his own suspicions point to his impulsive brother, Michael.

Michael is behind the hit on Bill, but can't afford to pay for it, so he accepts a dope run with the bikers for cash. Ted, hoping to dig up dirt on Bill's murder, puts surveillance on Michael. Mary, in order to placate superiors about Reardon, offers to get an undercover operator inside Reardon's operation. She recruits Tina, a stripper, who gets a job inside Reardon's strip-club, "The Chickadee." Meanwhile, Mary's wire room finds out about an arms shipment to Africa that is tied to a local broker, Bingham. Reardon finds out about Michael's debt for the hit, and pays it off to smooth things over. Mary uses Reardon's connection to Bingham to scare him into thinking the police know about his shipment. Mary's wire room picks up more info as a panicked Bingham calls his connections. Michael finds out about the surveillance on him and is able to evade it.

Mary recruits an outsider in order to get surveillance on her wire-room mole, Lee. If she can't turn Lee, she'll have to burn her unit to the ground and start from scratch. In the meantime Mary keeps expanding her overall intel network by recruiting a well know money launderer, Singh. If he wants to stay out of jail, he has to become an informer. Reardon's own money laundering operation is getting closer; an ATM scam to wash the tonnes of cash he is sitting on. He's also taking on new clients, supplying marijuana to a Vietnamese gang. Ted's ally in CSIS, the director Mary is being groomed to replace, is Roger Deakins. Deakins wants to do whatever it takes to keep Mary out of his job, and he and Ted agree to contact an American counterpart in the DEA about a US operation to entrap Reardon. An unknown hit man also tries to take Reardon out, but he is stopped at the last minute by an alert Michael.

Mary prepares a sting operation on Lee. Reardon wants to see his daughter Stella, but Francine is still in the way. Ted meets with his DEA contact, Williams, and agrees to hand over all his intelligence files on Reardon -- but only if he gets to meet Williams' undercover operator. Bingham offers Reardon a stock offering in exchange for moving the gun shipment and Mary asks him to accept the deal. She also informs Reardon his would-be assassin is connected to the Vietnamese. Reardon meets with his Vietnamese contact, Phan, who promises to take care of his disgruntled former supplier. The sting on Lee goes off and Mary interrogates him. He agrees to turn on the Red Eagles and work for her. Stella sneaks away from home and shows up at the strip club looking for Reardon. Francine calls, enraged, but Reardon is able to get her to agree to let Stella stay the night with him.

The bikers try to squeeze Reardon out of the ATM business, giving him an ultimatum. Mary wants Reardon to move another gun shipment for Bingham, but he refuses unless Mary gives him info on the bikers. The mole, Lee, reveals that the Triad group he works for (The Red Eagles) wants to kill an incoming Chinese dissident. The bikers begin taking over Reardon's growers on the Island, and Reardon needs a new supply source or he'll go out of business. Ted tells the DEA the best way into the Reardon organization is through Ronnie or Michael. Karl, an old prison buddy of Michael's, shows up, offering to supply marijuana. Ronnie wants to hit the bikers back or they'll never let up. Reardon's lawyer advises Reardon to move his money offshore. The bikers rip Michael on his next cash run and almost kill him. Mary witnesses Donny, Lee's contact in the Red Eagles, execute Lee.

Caught in a DEA sting in Seattle, Reardon tries to give himself up but it triggers a shootout. Although he never fired a shot DEA agent Williams is able to make it look like Reardon was responsible for both fatal shootings. As his partner and brother work out a plan to get him back to Canada. CSIS agent Mary Spalding has to deal with FBI agent Weathers as he hunts down Reardon while she attempts to determine the truth and protect her greatest intelligence asset.

To make matters worse the Disciples realize that in Reardon's absence a power play could be made so Ronnie must try to skillfully manoeuvre around the situation in order to keep them at bay.